[brief comment on nickel in SMM] Shanghai nickel broke through the 112000 yuan / ton barrier today, rising more than 2 per cent

SMM, July 30 / PRNewswire-Asianet /-

Shanghai nickel 1910 opened at 112490 yuan / ton today. At the beginning of the day, the center of gravity fluctuated around the first line of 112250 yuan / ton. Near the close of the afternoon, long positions increased, Shanghai nickel rose slightly, and the pressure of 113500 yuan / ton was fluctuated within a narrow range. In the afternoon, the bulls left the market, Shanghai nickel fell back to 112200 yuan / ton line, back to all increases before noon, the center of gravity around 112400 yuan / ton line of small shock, closed at 112570 yuan / ton, compared with the previous trading day settlement price rose 2270 yuan / ton, up 2.06%, trading volume decreased 164000 hands to 901000 hands. The number of positions increased by 19100 to 361000, and the inflow of funds into the Shanghai Ni 1910 contract reached 257 million yuan today. Throughout the day, the Shanghai Ni 1910 contract closed at the Xiaoyang line, breaking through the 5-day moving average and reaching the 10-day moving average. In the evening, we will pay attention to whether Shanghai Ni can stand above the 5-day moving average and hold the 112000 yuan / ton barrier.

This evening, we will focus on the monthly rate of personal expenditure in the United States in June, the monthly rate of contracted sales of existing homes in June, and the consumer confidence index of the Conference Board in July. The 12th round of Sino-US high-level economic and trade consultations was held in Shanghai, China, from 30 to 31 July.

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